One of Wall Street’s largest firms, Goldman Sachs, is reportedly setting up a cryptocurrency trading desk that will launch sometime in mid-2018.
“Goldman Sachs Group Inc. is setting up a trading desk to make markets in digital currencies such as bitcoin, according to people with knowledge of the strategy. The bank aims to get the business running by the end of June, if not earlier, two of the people said. Another said it’s still trying to work out security issues as well as how it would hold, or custody, the assets.”
The move positions Goldman Sachs to be the first of the large Wall Street firms to venture into cryptocurrency markets.
“In response to client interest in digital currencies, we are exploring how best to serve them,” Michael DuVally, a PR spokesman for Goldman Sachs, said in a statement.